Are You Running A Small Business In Nigeria? Osinbajo Is On Your Side

Do you lack access to funds for your business or information about how to register your products with regulatory bodies? Read on...

Growing a small business in Nigeria requires a lot, but most times access to funding gives persons who want to contribute to the growth of the nation's economy sleepless nights.

The rigorous process of getting agencies approvals for products do not motivate people to action.

After a business is birthed, money is needed to finance some other aspects including obtaining some regulatory bodies’ approvals.

The government believes in these businesses and hopes to grow the economy through them.

The belief has been transformed into a process that will reduce the huddles that Small and Medium Scale Enterprises (MSMEs) have to cross to access these regulatory agencies – NAFDAC, Standard Organisation of Nigeria (SON) and Corporate Affairs Commission (CAC).

It is part of the Ease of Doing Business in Nigeria initiative that the government is exploring.

To enable small business holders access this, the government is organising MSMEs Clinics in different states of the nation.

Now they have an opportunity to access these agencies and seek solutions to challenges of funding and product approval.

The Acting President, Professor Yemi Osinbajo, at one of the clinics held in the nation’s capital city, said the government had brought the agencies to the venue, as they were critical to the growth of small businesses which are the bedrock of the economy that is in

recession.

Acting President Yemi Osinbajo admires an umbrella made with Nigeria's fabric - Ankara.

“We are going to work very hard to ensure that we don’t just do exhibitions and come round to places like this and see what you are doing, but we are going to follow up.

“We are going to see that those who require funding, those who have the talents, those who have the creativity, are funded.

“Secondly, funding is also an important constraint for many of these small businesses", Osinbajo said.